Marketers must see themselves as benefit providers. For example, when a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?

A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.

hard-core loyals

split loyals

shifting loyals

switchers

Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________.

market valuation

market estimation

brand association

market partitioning

Which of the following is a strategy that uses the manufacturer’s sales force, trade promotion money, or other means to induce intermediaries to carry, promote, and sell the product to end users?

ABC Technology is nearing completion on their product and market research has discovered a competitor is also close to launching a similar product. ABC has decided launch before their competition, this is called ________.

first entry

parallel entry

late entry

early entry

What can enhance the value of Web-based shopping experiences to serve as personal shopping assistants or Web-site guides?

E-mail

Avatars

Tablets

Smartphones

Through its cutting-edge point-of-sale inventory, management technology, and highly efficient shipping practices, Wal-Mart is able to keep its inventory expenditure extremely low and to pass these savings on to consumers in the form of low prices. Wal-Mart’s strategy is best described as ________.

Overall cost leadership

market development

integrative growth

differentiation

If the Ford GT is designed to accelerate to 50 miles per hour within 10 seconds, and every Ford GT coming off the assembly line does this, the model is said to have high ________.

Which control should periodically reassess its approach to the marketplace with a good marketing audit?

Marketing control

Ethical control

Performance control

Strategic control

What is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the product, service, people, and image?

Total management benefit

Complete marketing benefit

Total customer benefit

Ultimate service benefit

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

market specialization

product specialization

selective specialization

single-segment concentration

Which of the following can induce a firm to expand into the international arena?

A saturated foreign market

Cater to a domestic mass market

High income level of domestic consumers

A saturated domestic market

The effect of exposures on audience awareness depends on the following three factors:

space, communication, and advertisements

reach, frequency, and impact

distance, timing, and focus

height, length, and width

2Wheels conducts exhaustive customer surveys to discover customer preferences and attitudes towards the brand. Sally uses cluster analysis to classify the data and help the company determine the trends in the information. Sally is using the technique of ________.

A music school in Boyles Height, LA, specializes in teaching the guitar and the violin. After a spurt in growth and a few successful years, the school is experiencing a slowdown in sales and stability in its profits due to an increase in competition. The school is in the ________ stage of its life cycle.

decline

maturity

obsolescence

growth

A firm must know where to position its product based on price and ________.

region

quality

promotional efforts

communication

The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda________.

righteousness

rules

ethics

sustainability

What type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order sizes to help expand or eliminate any products or marketing activities?

BMW's "The ultimate driving machine," American Express' "Don't leave home without it," New York Times' "All the news that's fit to print," and AT&T's "Reach out and touch someone" are all examples of ________.

brand slogan

brand personality

brand vision

brand mission

Which method identifies the effect sponsorship has on consumers brand knowledge?

Demand-side method

Pricing method

Supply-side method

Positioning method

A social definition of marketing says ______.

a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company’s products

marketing is the process of extracting maximum value from consumers to facilitate corporate growth

marketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others

Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful?

Emphasize benefits to the consumer rather than environmental benefits.

Explain the rules and regulations laid out by governmental agencies to protect the environment.

Demonstrate that the products will benefit both customers and the society in the long-term.

Focus on the efforts and costs incurred by the company to bring these "green" products to consumers.

The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place?

Step 1 – defining the problem

Step 2 – developing the research plan

Step 4 – analyzing the information

Step 5 – drafting the report

New-to-the-world products are ________.

new product enhancements that supplement established products

existing products that are targeted to new geographical markets

new products that create an entirely new market

low-cost products designed to obtain an edge in highly competitive markets

_______ is an approach that considers different ethnic and cultural segments require targeted marketing campaigns and tactics.

Ethnic-based marketing

Diversity marketing

Multicultural marketing

Specialized marketing

The three guidelines for anticipating management reactions are (1) prior to the crisis during normal day-to day operations, (2) at the moment some event triggers the crisis, and (3) during the crisis situation that triggers the event. These guidelines are the stages for ________.

decision making

provoking solutions

crisis management

problem-solving

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This article covers the topic for the University Of Phoenix MKT 571 Final Exam. The author is working in the field of education from last 5 years. This article covers the basic of MKT 571 Final Exam Assignment from UOP. Other topics in the class are as follows: